Thank you, Chair.
Thank you all for appearing.
I love the story of the wise king—maybe you've heard it—who sent his sages out to get him the wisdom of the ages. Have you heard this story? They came back with 12 books, and he said, “Shorten it; nobody will read it.” They came back with a book, and it was still too long. They came back with a page. He looked at it and said, “No, it's still too long.” So they came back with one line. Looking at that line, he said, “That's it; that's the wisdom of the ages.” On that line was written: “There ain't no free lunch.”
We talk about defined contribution and we have talked about defined benefits.
Mr. Wrobel, how has the market performed in the last four years?